Acceleration opportunity opened for Vietnamese AI start-ups

The AI Accelerator Challenge 2021 (AAC 2021), organised by the VSV Foundation under the auspices of the Ministry of Science and Technology and funded by the Australian Embassy, has just officially opened for registration.

The AI Accelerator Challenge 2021 (AAC 2021), organised by the VSV Foundation under the auspices of the Ministry of Science and Technology and funded by the Australian Embassy, has just officially opened for registration.

This is an acceleration program specifically designed for Vietnamese artificial intelligence (AI) start-ups with innovative ideas and products that address the practical needs of the market.

The AI Accelerator Challenge 2021, themed "AI in pandemic - Adapting to the new normal", has been organised with the goal of identifying, incubating, promoting and developing potential AI-powered applications in numerous fields such as finance, commerce, electronics, telecommunications, manufacturing, agriculture, healthcare, education, transportation and smart city.

Participants will have the opportunity to undertake a four-week online training course, after which the top five teams will be awarded prizes including a service support package worth VND 500 million, a business promotion and mentoring course worth VND 200 million and up to VND 200 million in seed investment with no equity required.

Running from February to August 2021, the program is open for registration until midnight on 25 March 2021. Interested candidates can find more detailed information and apply at https://ai.vsvfoundation.com/

The program will assist Vietnam’s economic recovery from the COVID-19 pandemic, as well as helping to foster the development of a vibrant AI start-up environment.

“Vietnam should be very proud of its successes in tackling COVID-19”, said H.E Mr Andrew Barnes, Australian Chargé d' Affaires to Vietnam. “Through sponsoring programs to promote innovative applications using artificial intelligence, Australia is demonstrating its strong commitment to assisting Vietnam overcome the COVID-19 pandemic, supporting economic recovery and strengthening its innovation system.”

“The Government is trying to implement many activities to cope with disruptions caused by COVID-19, in which innovation and application of advanced science and technology have been defined as the key to increase the resilience businesses and recovery of the economy. Artificial intelligence is one of the core technologies that promise to revolutionise many of Vietnam's key socio-economic sectors such as health, education, business, commerce, finance and agriculture.” Vice Minister Bui The Duy from the Ministry of Science and Technology added.

“We are proud to be a part of this program,” Ms Thach Le Anh, Founder of VSV Foundation said. “The AAC 2021 will not only allow Vietnamese AI start-ups to receive mentoring from top AI technology experts, but also support them with business development and fund raising, including by raising capital from angel investors and leading domestic and foreign venture capital funds. The start-ups will be able to raise up to VND 2 billion after the program ends.”